Pilgrim’s Pride agrees to settle some price-fixing claims

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Pilgrim’s Pride agrees to settle some price-fixing claims

Pilgrim’s Pride has entered into an agreement to settle all price-fixing claims with a group of poultry buyers.  Pilgrim’s has agreed to pay the Direct Purchaser Plaintiff Class $75-million, the agreement remains subject to court approval. 

In a statement to Brownfield, Pilgrim’s says it does not admit to any liability for the claims alleged in the Broiler Antitrust Civil Litigation, but believes a settlement was in the best interests of the company and its shareholders.  Individual lawsuits outside the DPP Class remain outstanding. 

Pilgrim’s Pride is the second-largest US chicken processor by sales and the deal would be the biggest to date in a legal battle alleging collusion among the largest companies in the $65-billion chicken industry that has spanned more than four years.  This proposed settlement comes after Pilgrim’s announced a plea deal last fall in the Justice Department’s price-fixing case, where they agreed to pay $110.5 million.

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